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Americans Will Bail Out Wall Street Again

By Bob Ivry, Bloomberg Magazine - May 12, 2013

To make sure a future crisis won’t force governments to intervene, international regulators are requiring the biggest banks to borrow less. Three years ago, U.S. lawmakers passed the Dodd-Frank Wall Street Reform and Consumer Protection Act -- with provisions to liquidate a collapsing financial institution and end the perception that some banks are too big to fail. “Because of this reform, the American people will never again be asked to foot the bill for Wall Street’s mistakes,” Obama said on July 15, 2010. “There will be no more taxpayer-funded bailouts -- period.”

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